This ad’s reference goes much further back than a 2012 movie, from the Wikipedia link: > The film was inspired by a joke classified ad that ran in Backwoods Home Magazine in 1997.

Hanging is supposed to snap the neck well enough to cause immediate and total paralysis, meaning that all body functions stop (heart, lungs, breathing).

Without blood flow and oxygen brain death happens soon after, but I have read brain activity can continue up to 5 minutes after supporting body functions stop.

With that information, assuming the hanged does not lose consciousness they will feel immense pain and panic as their brain suffocates. If their eyes are open they can watch the world while unable move or communicate for their last few minutes of life.